Taiwan poised to expand shipping industry: VP Wu

TAIPEI -- Taiwan is well-positioned to expand its maritime and logistics industries to work with its international trade partners as it seeks to become a shipping hub in East Asia, Vice President Wu Den-yih said yesterday.

Such development is crucial amid stronger economic ties between Taiwan and its major trade partners like China and the United States, Wu said.

Wu highlighted the work being done to improve Taiwan's investment environment, citing as examples the recent signing of an investment protection pact and a customs cooperation agreement with China and efforts to seal a free trade agreement with the U.S. as early as possible.

"Such actions will help Taiwan to achieve and maintain a better competitive position in East Asia and will benefit Taiwanese companies," he said.